standard chartered bank tanzania limited vs national oil tanzania limited another 2013 tzca 228 5 february 2013
The appellant, Standard Chartered Bank, wrongfully converted the proceeds of a genuine cheque by processing and crediting it to a party not entitled to it, acting negligently and without good faith. The omission to endorse documentary evidence did not cause injustice and did not invalidate the trial record. The respondents, as true owners, were entitled to recover the cheque amount and general damages, subject to reduction for failure to mitigate loss.
Source excerpt
- Wrongful conversion
- Cheque processing
- Burden of proof
- Negligence
- Good faith in banking
- Strict liability